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| Another 220 Central Park South condo trades for over $10K psf | ||
| 9/25/2020 8:00 AM | ||
| For the third time this month, a condominium at 220 Central Park South closed for upwards of $10,000 per square foot. Unit 71 in the tower portion of Vornado Realty Trust’s condo building sold to an unknown buyer for $62.6 million, according to property records. The 5,935-square-foot pad went into contract in August 2018 and finally closed last ...Read More | ||
| Here’s what tenants are paying at SL Green & PGIM’s 11 Madison Ave | ||
| 9/25/2020 7:30 AM | ||
| When SL Green acquired 11 Madison Avenue for $2.6 billion from the Sapir Organization and CIM Group in 2015, CEO Marc Holliday called the full-block office property a “serious, serious office building” that would establish the firm as a major landlord in Midtown South. The 2.3 million-square-foot Art Deco tower next to Madison Square Park, built...Read More | ||
| Louise Sunshine and Fredrik Eklund hold court on selling luxury | ||
| 9/25/2020 7:00 AM | ||
| Selling luxurious new development is now an online game best played en masse, according to industry veterans Louise Sunshine and Fredrik Eklund. The Sunshine Group founder and Douglas Elliman broker spoke on the latest episode of TRD Talks Live about how and where pandemic-era sales are happening. “It’s been terrible and it’s been a very s...Read More | ||
| The Closing: Carl Weisbrod | ||
| 9/25/2020 6:30 AM | ||
| Carl Weisbrod has been a fixture in city government for more than four decades. He joined the administration of New York City Mayor John Lindsay as an attorney with the Department of Relocation in 1970 and was later tapped to spearhead the transformation of Times Square while also serving as executive director of the Department of City Planning....Read More | ||
| Here’s how Industry City’s controversial rezoning unraveled | ||
| 9/25/2020 6:00 AM | ||
| Industry City was once set to become one of the biggest manufacturing hubs — and, with any luck, job creators — in Brooklyn. Now, it’s the latest example of a major development that couldn’t get through New York City’s political gauntlet. This week saw a crushing setback for the 35-acre campus: The development team — a partnership between Jamest...Read More | ||
| Investors accuse Prodigy Network of fraud at troubled Park Ave development | ||
| 9/24/2020 5:21 PM | ||
| A 12-story Park Avenue co-working space that was marketed as a way to foster a “collective consciousness evolution” is now at the center of a lawsuit in which 50 investors are claiming fraud. The group is trying to claw back their $12.7 million investment from crowdfunding company Prodigy Network for the project at 331 Park Avenue South, known a...Read More | ||
| Contractor involved in deadly Miami bridge collapse alleges design firm botched review | ||
| 9/24/2020 5:00 PM | ||
| The contractor behind the Florida International University bridge that collapsed in March 2018, killing six and injuring 10, filed a lawsuit seeking $15 million from the company responsible for reviewing the bridge’s design before its construction. The plaintiff and builder of the $14.2 million bridge at Southwest 109th Avenue and Southwest Eigh...Read More | ||
| Colony sells most of its hotel biz to Highgate in $2.8B deal | ||
| 9/24/2020 4:25 PM | ||
| Tom Barrack’s Colony Capital is selling the majority of its beleaguered hotel business to private investor Highgate Hotels in a deal valuing the properties at $2.8 billion. It’s the largest shakeup the hospitality sector has seen since being decimated by the pandemic. The publicly traded Colony signed an agreement to sell six of its seven hotel ...Read More | ||
| Home Depot eyes former Bed Bath & Beyond space on First Ave | ||
| 9/24/2020 3:18 PM | ||
| Big-box retailers are playing musical stores on the Upper East Side. Home Depot, which currently leases nearly 80,000 square feet at Vornado Realty Trust’s 731 Lexington Avenue, may be moving to a bigger spot in the neighborhood. The home improvement store is on its way to taking over the more than 90,000-square-foot space Bed Bath & Beyond ...Read More | ||
| $60M mezz loan on Ian Schrager’s Public Hotel is for sale | ||
| 9/24/2020 2:30 PM | ||
| Korean lender Shinhan Investment wants to sell its $60 million mezzanine loan on the Public Hotel in the Lower East Side, the Commercial Observer reported. The hotel is owned by hotelier Ian Schrager and the Witkoff Group. Deutsche Bank is the senior lender of the property, having provided the owners with a $173 million refinancing in March 2019...Read More | ||
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